Twitter is now an Elon Musk company - The Verge

Elon Musk’s $44 billion acquisition of Twitter is complete, the company has confirmed. Former CEO Parag Agrawal, along with CFO Ned Segal and policy chief Vijaya Gadde, has reportedly been fired.

The Verge homepageThe Verge homepageThe VergeThe Verge logo./Tech/Reviews/Science/Entertainment/MoreMenuExpandThe VergeThe Verge logo.MenuExpandElon Musk/Tech/TwitterTwitter is now an Elon Musk companyTwitter is now an Elon Musk company / Twitter’s current CEO, CFO, and policy chief have left the buildingBy Elizabeth Lopatto / @mslopatto

Share this story Laura Normand / The VergeElon Musk, Twitter’s most important shitposter, has added the company to his business empire after months of legal skirmishes, according to CNBC, The Washington Post, and Insider. The acquisition was confirmed in an SEC filing from the company on Friday morning, noting it’s delisting $TWTR from the New York Stock Exchange. He celebrated by firing executives.

Musk fired Parag Agrawal, who succeeded Jack Dorsey as Twitter CEO, and chief financial officer Ned Segal, both of who were in the building at the time and escorted out by security, according to Reuters. Vijaya Gadde, the company’s policy chief whom Musk had publicly criticized, was also ousted. Sean Edgett, the general counsel, is gone, too, The New York Times reports. (Bloomberg says security escorted him out, as well.) Chief customer officer Sarah Personette was also fired, Insider reports.

The execs received handsome payouts for their trouble, Insider reports: Agrawal got $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette, who tweeted yesterday about how excited she was for Musk’s takeover, got $11.2 million.

Musk originally offered to buy Twitter in April, then changed his mind and tried to back out in May. Then, he changed his mind again on October 4th, filing a letter with the Securities and Exchange Commission affirming his commitment to the original deal. Musk has been meeting with Twitter employees this week and is expected to address them on Friday now that his $44 billion takeover is done.

https://www.theverge.com/2022/10/27/23184519/elon-musk-twitter-acquisition-deal-complete-agreement

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